BoNY, Creditors Oppose Lyondell DIP Changes

Law360, New York (July 23, 2009, 3:56 PM EDT) -- The Bank of New York Mellon Corp. and the committee of unsecured creditors have filed objections to bankrupt Lyondell Chemical Co.'s bid to file a second amendment to its $8 billion debtor-in-possession financing package, with the bank going so far as to suggest that the court force Lyondell to renegotiate the terms of the financing.

According to separate objections filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Lyondell's move to establish a base interest rate floor on its roll-up DIP...
To view the full article, register now.